BUSINESS AND MANAGEMENT – SHORT QUESTIONS AND ANSWERS 2024 SERIES 5
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Course
Business and Management
Institution
Business And Management
Unlock the essentials of strategic and operational management with our comprehensive question and answer guide. Perfect for business and management students, this resource covers key concepts including managerial skills, strategic planning, goal setting, and crisis management. With clear explanatio...
BUSINESS MANAGEMENT – SHORT QUESTIONS AND ANSWERS 2024 SERIES 5
1.
Question: A process of planning, organizing, leading, and controlling helps an organization reach its
goals. This process is known as
A. Executive Decision-making
B. Management
C. Conceptual planning
D. Business Analysis
Correct Answer: B. Management
Explanation: Management is the Correct Answer because it involves the process of planning,
organizing, leading, and controlling to help an organization achieve its goals. This encompasses
activities such as setting objectives, coordinating resources, directing employees, and monitoring
progress. Management is essential for ensuring that all aspects of the organization are aligned and
working towards the desired outcomes.
2.
Question: Successful managers determine goals, develop a strategy, and design plans to execute the
strategy. This element of management is
A. Leading
B. Planning
C. Organizing
D. Controlling
Correct Answer: B. Planning
Explanation: Planning is the Correct Answer because it involves determining goals, developing a
strategy, and designing plans to execute the strategy. Planning is an essential element of management as
it helps managers set objectives, identify the actions required to achieve those objectives, and allocate
resources effectively. By carefully planning, managers can anticipate potential challenges, make
informed decisions, and ensure that the organization is moving in the desired direction.
3.
Question: Successful managers must decide how to best arrange the organization’s resources. This
function of management is:
A. Leading
B. Planning
C. Organizing
D. Controlling
Correct Answer: C. Organizing
Explanation: Organizing is the Correct Answer because it refers to the function of management
where managers determine the most effective way to arrange and allocate resources within the
organization. This involves establishing a structure, dividing tasks, and coordinating activities to
achieve the organization's goals. Successful managers must be skilled in organizing to ensure that
resources such as personnel, finances, and materials are utilized efficiently and effectively.
4.
Question: Successful managers must guide and motivate employees to reach goals and objectives. This
process is known as:
A. Leading
B. Planning
C. Organizing
D. Controlling
Correct Answer: A. Leading
Explanation: Leading is the Correct Answer because it refers to the process of guiding and
motivating employees to achieve organizational goals and objectives. Successful managers need to
provide direction, inspire their team, and influence their behavior to ensure that everyone is working
towards a common purpose. Leading involves effective communication, setting expectations, providing
feedback, and fostering a positive work environment. By leading their employees, managers can
effectively guide and motivate them to reach their full potential and contribute to the overall success of
the organization.
5.
Question: Successful managers must closely monitor the progress of the organization. This step in the
management process is called:
A. Leading
B. Planning
C. Organizing
D. Controlling
Correct Answer: D. Controlling
Explanation: Controlling is the Correct Answer because it refers to the step in the management
process where managers closely monitor the progress of the organization. This involves comparing
actual performance with planned goals and taking corrective actions if necessary. By monitoring and
controlling, managers ensure that the organization is on track and making progress towards its
objectives.
6.
Question: These managers have responsibility for the firm’s overall performance:
A. Middle Managers
B. First-line Managers
C. Top Managers
D. Employees
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